How Do Stakeholders Matter in Product Innovation?
Heidelberg, DE : Springer International Publishing
InProceedings of the 2007 Academy of Marketing Science (AMS) Annual Conference
Article in monograph or in proceedings
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Proceedings of the 2007 Academy of Marketing Science (AMS) Annual Conference
This study investigates how stakeholder orientation affects product innovation and takes the incorporation of green (ecological) issues as a specific context to study this question. The authors borrow insights from three streams of literature: (1) insights from stakeholder theory, combined with (2) parallel developments in the market orientation literature, and (3) findings from environmental management research. Based on these three streams of literature, the authors develop a theoretical model of how stakeholder orientation impacts the inclusion of green issues in product development, en route to innovation performance. Stakeholder orientation reflects the (1) systematic gathering of information on stakeholders, (2) the systematic analysis of the information for the purpose of developing stakeholder knowledge, and (3) the systematic use of such knowledge to guide strategy development and implementation (Greenley and Foxall 1998; Maignan and Ferrell 2004). Following insights from stakeholder theory and market orientation, the authors propose that stakeholder orientation should be thought of as having both width (number of different stakeholder groups) and depth (better understanding of future interests).
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